TSA delays December rate hike by 2 weeks

Monday, November 19, 2012

Container line members of the Transpacific Stabilization Agreement said Friday they plan to postpone a previously announced recommended rate hike on the eastbound transpacific trade from Dec. 1 to Dec. 15.
“The postponement reconciles varying effective dates adopted on a voluntary basis by individual carriers to avoid confusion in the market, and more closely aligns the scheduled increase with yearend cargo trends,” TSA said in a statement.
TSA carriers are seeking an increase of $400 per FEU to the U.S. West Coast, and $600 per FEU for all other destinations in December. The GRI, announced in late October, was intended to lay a foundation for further rate hikes in the 2013 spring contracting season, with TSA stating its members were experiencing “flat or declining rate levels in many commodity segments.” - Eric Johnson